Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.Please provide the journal entry to record the acquisition of the business along with goodwill,if any.
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Question

Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.Please provide the journal entry to record the acquisition of the business along with goodwill,if any.
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\end{array}$$

Quizplus · Accepted Answer

The Answer of Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.Please provide the journal entry to record the acquisition of the business along with goodwill,if any.
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